# Joint Stock Company Kaspi.kz American Depository Shares (KSPI) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Financial Services. Price $107.53, market value $20.4 billion.

## Valuation
- **P/E (trailing): 9.1×** (5-yr avg 0.0×, 3-yr avg 0.0×). Joint Stock Company Kaspi.kz American Depository Shares trades at 9.1× trailing earnings, well above its own five-year average of 0.0×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 0.0×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.01**. A PEG of 0.01 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / book: 0.0×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **Earnings yield: 11.0%**. The inverse of the P/E: 11.0% of the price is earned each year.

## Profitability
- **Gross margin: 51.8%**. Joint Stock Company Kaspi.kz American Depository Shares keeps 51.8% of revenue after the direct cost of what it sells.
- **Operating margin: 36.4%**. 36.4% of revenue is left after running the business, an exceptional level.
- **Net margin: 26.4%**. 26.4% of each dollar of sales reaches the bottom line.
- **Return on equity: 41.0%**. 41.0% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on assets: 9.7%**. Each dollar of assets produces 9.7% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 59.8%** (3-yr 47.1%/yr). Revenue grew 59.8% over the last year.
- **EPS growth (1 yr): 3.0%** (3-yr 22.9%/yr). Earnings per share rose 3.0%, slower than revenue, so margins compressed.

## Financial health
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend yield: 5.34%** ($5.74 per share, trailing). Joint Stock Company Kaspi.kz American Depository Shares yields 5.34%, an income-level yield.
- **Payout ratio: 0%**. 0% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 1**. 1 straight year of increases.

## Analyst view
- **Analyst consensus: buy** (7 analysts). 7 analysts cover Joint Stock Company Kaspi.kz American Depository Shares; the consensus is buy, with an average price target of $104.80 (-3% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 23.3%** (YTD 43.8%, 3-mo 35.4%). The shares are up 23.3% over twelve months including dividends.
- **From 52-week high: -2.2%** (56.8% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 68**. An RSI of 68 is neutral.
- **Beta (1 yr): 0.99** (volatility 34%). Beta of 0.99 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=KSPI · Page: https://foliofundamentals.com/stocks/kspi

Not investment advice.